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Travel-Tech Startup Spotnana Raises $75 Million in Series B Funding

Cloud-based travel tech startup Spotnana has raised $75 million in a Series B round led by growth capital firm Durable Capital Partners, with participation from existing investors Mubadala Capital and Blank Ventures.

In a July 26 statement, the company said it would use the new funding to accelerate hiring and drive faster adoption of its travel-as-a-service platform. However, Spotnana did not disclose the valuation of this round.

Founded in 2019 by Sarosh Waghmar and Shikhar Agarwal, Spotnana is a software-as-a-service (SaaS) platform for travel buyers and suppliers that provides travel inventory from around the world to facilitate travel management.

Spotnana said its workforce has more than doubled in the past year to more than 200. Spotnana is headquartered in New York, with most of its employees working out of Bangalore, Pune and Mumbai offices.

Agarwal, who also serves as chief technology officer (CTO), added that the company is bringing in engineers from technology leaders such as Microsoft and Google to build a new high-performance travel infrastructure that leverages massive amounts of data and artificial intelligence (AI) to support tourists.

The company said its travel-as-a-service platform includes everything from consumer-grade online booking tools to a new booking engine, middle office replacement, a new travel booking record system, and travel inventory data integration.

According to Spotnana, its travel-as-a-service platform provides enterprises, travel management companies, suppliers and technology providers with a single cloud-based technology stack. The company also said its new technology stack enables the travel industry to reduce operating costs, accelerate innovation and improve the travel experience.

Steve Singh, MD at Madrona Venture Group and Executive Chairman at Spotnana, said: “Spotnana is accelerating innovation across the travel industry, enabling everyone to benefit from the power of cloud computing, microservices, open platforms and open APIs (application programming interfaces)”.

Earlier, in September 2021, the company raised a $34 million Series A round co-led by ICONIQ and Madrona Venture Group, with participation from Decibel and Mubadala Capital.

The company also raised an undisclosed $7 million seed round in 2020 from ICONIQ and Madrona Venture Group, which includes 8VC and Global Founders Capital.

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